Welcome to our dedicated page for INVESCO DB AGRICULTURE FUND SEC filings (Ticker: DBA), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Invesco DB Agriculture Fund filings document material events for a commodity fund issued through Invesco DB Multi-Sector Commodity Trust. Recent 8-K and amended 8-K disclosures identify DBA's common units of beneficial interest, NYSE Arca listing, and relationship to the DBIQ Diversified Agriculture Index Excess Return.
The filings describe index methodology changes implemented by Deutsche Bank AG, including the addition of soybean meal and soybean oil to the eligible commodity universe, revisions to Optimum Yield contract selection, rules-based annual reviews of base weights and commodities, and commodity weight limits intended to reduce concentration risk.
INVESCO DB AGRICULTURE FUND (DBA) offers continuous primary issuance of common units of beneficial interest (“Shares”) in Creation Units of 50,000 Shares to Authorized Participants, with Shares trading on NYSE Arca under the symbol DBA. The Fund is a commodity pool seeking to track the DBIQ Diversified Agriculture Index Excess, which reflects the agriculture sector via futures on Corn, Soybeans, Wheat, Sugar, Coffee, Cotton, Livestock and related contracts.
The portfolio primarily consists of exchange-traded futures on 13 agricultural commodities, plus collateral in U.S. Treasury securities, money market funds and T-Bill ETFs that generate Treasury Income, Money Market Income and T-Bill ETF Income. Performance is driven mainly by futures trading and the Index’s “Optimum Yield” roll methodology, which aims to reduce negative roll yield in contango and enhance positive roll yield in backwardation, though this may not succeed.
Investors face significant risks, including high futures volatility, potential total loss, tracking error, position limits, super contango, and market disruptions. Annual asset-based fees total about 0.86% of NAV (including an explicit 0.85% management fee and estimated 0.01% brokerage costs), partly offset by collateral income; breakeven over the first year is modeled at $0.00 and 0% of NAV at a May 31, 2026 NAV of $27.25 per Share.
Invesco DB Agriculture Fund seeks to track the DBIQ Diversified Agriculture Index Excess Return™ by holding a diversified long portfolio of exchange-traded agriculture futures, collateralized primarily by affiliated cash instruments. As of June 30, 2026, total assets were $1,197,881,576 and shareholders’ equity was $1,153,084,114, with 43,200,000 Shares outstanding and a net asset value of $26.69 per Share (market price $26.68).
For the six months ended June 30, 2026, the Fund recorded net income of $20,149,828, compared with a net loss of $16,436,975 a year earlier. Net investment income was $14,110,774, and commodity futures produced a combined realized and unrealized gain of $6,129,758. The total return at NAV was 4.50% for the six-month period, despite a 2.09% NAV decline in the second quarter.
Collateral is concentrated in affiliated vehicles: the Invesco Government & Agency Portfolio money market fund represented 81.92% of shareholders’ equity and the Invesco Short Term Treasury ETF 10.38%, together totaling 92.30%. Open long futures positions across corn, soy, wheat, livestock and soft commodities had aggregate unrealized depreciation of $12,450,243, with average futures notional exposure of $1,025,533,739 over the six-month period, broadly in line with the Fund’s NAV.
Invesco DB Multi-Sector Commodity Trust and Invesco DB Agriculture Fund update their prospectus to reflect a board change at Invesco Capital Management LLC, the managing owner. Jordan Krugman will resign from all positions with the managing owner and its affiliates effective at the close of business on August 3, 2026.
Effective the same time, Matthew Casaccia, age 43, is appointed to the Board of Managers of the managing owner and replaces all references to Mr. Krugman in the prospectus. Casaccia is Senior Director of Financial Planning and Analysis for Investments and Global Product at Invesco Ltd and has 17 years of experience at Invesco in finance, distribution and transfer agency roles. His application as a principal of the managing owner is being prepared. Shares of the Invesco DB Agriculture Fund trade on NYSE Arca under the symbol DBA.
Invesco DB Agriculture Fund reported strong results for the three months ended March 31, 2026, driven by gains on agricultural commodity futures. Net income was $55.7 million, compared with a net loss in the prior-year period, as both realized and unrealized futures gains were positive.
Total assets rose to $1.22 billion, with shareholders’ equity at a similar level and Shares outstanding increasing to 44.65 million. Net asset value per Share increased from $25.54 to $27.26, while market price per Share ended at $27.32, producing a 6.73% total return at NAV for the quarter.
The Fund continued to follow its strategy of tracking the DBIQ Diversified Agriculture Index Excess Return through long futures positions across corn, soybeans, wheat, sugar, cocoa, coffee, cotton and livestock, supported by substantial collateral in affiliated money market and short‑term Treasury funds.
Invesco DB Agriculture Fund is a Delaware series trust that uses exchange-traded futures to track the DBIQ Diversified Agriculture Index Excess Return. The index currently covers 13 agriculture and livestock commodities, including corn, soybeans, wheat, sugar, cocoa, coffee, cotton, live cattle, feeder cattle and lean hogs.
The Fund earns interest and dividends from U.S. Treasury obligations, money market funds and T‑Bill ETFs posted as collateral, but performance is driven mainly by futures returns and roll yield. It charges a 0.85% annual management fee and total expenses of about 0.92% per year. The Fund is not actively managed; it systematically rolls contracts using a rule-based methodology designed to respond to contango and backwardation. Extensive risk factors highlight high volatility, possible large drawdowns, position limits, liquidity constraints, geopolitical shocks, regulatory changes and tax complexity. As of its most recently completed second fiscal quarter, non‑affiliate equity market value was $787,416,000, and 28,150,000 units were outstanding as of January 31, 2026.
Invesco DB Agriculture Fund is updating how its underlying index is constructed. Effective November 10, 2025, Deutsche Bank modified the DBIQ Diversified Agriculture Index Excess Return by expanding eligible commodities, adding Soybean Meal and Soybean Oil, tightening liquidity screens, and introducing annual reviews of commodity weights.
The index now includes sector and single-commodity caps and floors and allows intra-year rebalancing when weights drift too far from targets. The Fund states these changes will not change its investment objective.
Invesco DB Agriculture Fund (DBA) filed its quarterly report for the period ended September 30, 2025. The fund reported net income of $16,878,645 for Q3, driven by $8,245,812 of interest and dividend income and gains from futures revaluation, offset by a realized loss on commodity futures.
Net asset value per share was $26.80 with 29,550,000 shares outstanding, compared with $26.60 and 29,600,000 at year-end. Total assets were $792,318,266 and shareholders’ equity was $791,801,234. Affiliated investments (Invesco Government & Agency Portfolio and Invesco Short Term Treasury ETF) represented 80.96% of equity, while open commodity futures positions produced a net unrealized depreciation of $2,943,406 at quarter-end. Average notional futures exposure was $790,199,899 in the quarter.
The fund recorded nine‑month net income of $441,670 as realized gains earlier in the year were offset by subsequent unrealized losses. A subsequent event notes Index methodology changes effective November 10, 2025, including expanded commodities, modified Optimum Yield selection, annual weight reviews with caps/floors, and intra‑year rebalancing triggers.
Invesco DB Agriculture Fund (DBA) disclosed changes to the index methodology used to track agricultural commodities. The index provider will now determine eligible commodities annually based on liquidity and economic importance, and the index universe is expected to expand. The Optimum Yield method will be modified to remove contracts with limited liquidity, static allocations will be replaced by a rules-based annual review to reflect current production and market liquidity, and sector and single-commodity caps and floors will be added to reduce concentration risk. An intra-year rebalance may occur if large monthly deviations appear. The filing states these changes do not affect the Fund's investment objective.